All posts tagged "featured"

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  Nigeria’s bond sale falls far short, investors demand higher yields

  Nigeria sold far fewer bonds than it offered on Wednesday, as investors demanded higher yields from a government struggling to contain its borrowing costs. Africa’s largest economy raised N39 billion($128.21 million) in bonds maturing in five, 10...

  • Posted November 19, 2016
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  RenCap faults assumptions of FG’s 2017 proposed Budget

  The federal government’s optimistic oil production and foreign exchange (FX) rate assumptions, undermine the credibility of the 2017 proposed budget, as presented in the FGN 2017-2019 medium-term expenditure framework, analysts at Renaissance Capital Limite (RenCap) have stated....

  • Posted November 19, 2016
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  AshakaCem to delist from NSE over free float deficiency

  The Board of Directors of Ashaka Cement Plc has opted for a voluntarily delisting of the company from the Nigerian Stock Exchange (NSE). In an explanatory to the NSE, made available wednesday, directors of Ashaka Cement said...

  • Posted November 18, 2016
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  FMDQ suspends publication of Interbank FX Closing Spot Rate

  Considering the liquidity challenges and prevalent disequilibrium currently facing the Nigerian Foreign Exchange (FX) market, the FMDQ OTC Securities Exchange wednesday announced the suspension of the FMDQ Spot FX Closing Rate with immediate effect. The move according...

  • Posted November 18, 2016
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  FG to introduce new penalty for gas flaring

  The Federal Government is considering the introduction of a new penalty for brown field sites, especially joint venture and service contracts, which contribute 88 per cent of the total associated gas flared in the country. The new...

  • Posted November 18, 2016
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  Dollar scarcity, key challenge to Nigerian companies –Moody’s

  Global rating agency, Moody’s Investors Service, on Wednesday said the scarcity of United States dollars remained a key challenge to companies operating in Nigeria. As a result, Moody’s said foreign capital inflows into Nigeria would unlikely rebound...

  • Posted November 18, 2016
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  Brazil, US, Canada slash Nigeria’s oil imports

  Major buyers of the Nigerian crude oil in the North and South America have slashed their imports from the country, the latest report from the Nigerian National Petroleum Corporation has shown. It said the monthly imports of...

  • Posted November 18, 2016
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  BlackBerry users get seven months WhatsApp lifeline

  BlackBerry users in Nigeria and across the world will now not be able to use WhatsApp on their devices from June 30, 2017 instead of the earlier date of December 31, 2016. WhatsApp stated this on Wednesday...

  • Posted November 18, 2016
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  Negative sentiments drive equities market indicators lower

  Persistent weak investors’ sentiments kept the stock market in red zone for the second consecutive day with the Nigerian Stock Exchange (NSE) All-Share Index (ASI) shed 0.50 per cent to close at 25,857.06 yesterday. Similarly, market capitalisation...

  • Posted November 17, 2016
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  FG owes oil firms N2.6tn in cash calls

  The cash call arrears owed oil companies by the Federal Government have swollen to over $8.5bn (N2.6tn), a development that has seen the government making moves to exit the Joint Venture cash call system. The Group Managing...

  • Posted November 17, 2016
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